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ORLANDO-Central Florida's 46 million-sf market, with a low 6.4% vacancy level, will probably see only 5.8 million sf of new product in 2001, almost half of the 2000 volume, according to new separate analyses by Marcus & Millichap and Grubb & Ellis Co.
BONITA SPRINGS, FL-With supreme confidence in the market, the luxury-condominium developer expects to presell about half of the 840 proposed units by this summer and then begin construction on one of the single largest shelter projects proposed in Florida.
SAN FRANCISCO-The 2001 forecast report predicts that real estate market fundamentals will remain healthy in the next 12 to 18 months, although increased risk exists due to the economic slowdown and corrections in the technology and dot-com sectors.
CHICAGO-A sale by Banyan Strategic Realty Trust, a REIT based Downtown here, of its real estate portfolio for $226 million to privately-held Denholtz Associates includes more than 250,000 sf in Orlando and Winter Park.
CHICAGO-The REIT based here has agreed to sell its portfolio of primarily office and industrial properties to privately held Denholtz Associates. The 3.6 million-sf portfolio's most recent vacancy rate was 16%.
HOLLYWOOD, FL-Hard Rock Cafe International of Orlando and Cordish Co. of Baltimore join the sovereign Native American nation in plans to complete 700-room and 200-room properties by the end of 2002.
ORLANDO-The locally-based company is selling off 60-year-old tracts in Georgia and Florida to pay for new investments over the next 24 months in Orlando, Tampa, Jacksonville and Dade-Broward-Palm Beach Counties.
ORLANDO-Archon Group of Las Colinas, TX developed the Greens at Eaglewood Apartments at John Young Parkway and Oakridge Road in south Orlando, the company's first area venture. Essex Builders Group, the project's general contractor, predicts a strong construction year in Central Florida in 2001, despite feared slowdowns elsewhere.
ORLANDO-Both sides feel they have the better bargaining hand in a dispute over who came up first with the idea for the three-year-old, 150,000-sf Wide World of Sports complex at Walt Disney World's 30,000-acre enclave in suburban Lake Buena Vista, FL. A settlement for a lesser amount would avoid an expensive hearing shortly before the Fifth District Court of Appeal in Daytona Beach, FL.
ORLANDO-Walt Disney World doesn't want any train dropping off potential tourists at arch rival Universal Orlando's doorstep. Disney suggests it may build its own fast train if the state rejects its more expensive two-line plan.